Florida Company Formation

Downtown Miami over Biscayne Bay

Florida is a state in the United States of America which is bordered to the north by Georgia and Alabama, to the east by the Atlantic Ocean and to the west by the Gulf of Mexico. Its capital is Tallahassee. Its economy is driven by many activities such as commercial space travel, tourism, banking and other financial services, aerospace, manufacturing and construction.

TYPE OF COMPANY: LLC

COMPANY LAW: Common

SUFFIX TO DENOTE LIMITED LIABILITY: LLC

MEMBERS: Minimum one of any residency or nationality – we can provide

SECRETARY: Not required

CAPITAL REQUIREMENTS: None

OWNERSHIP: 100% Foreign ownership allowed

TIME TO INCORPORATE: 24 hours

REGISTERED OFFICE: Required in Florida – we can provide

ANNUAL RETURN: No

ACCOUNTS: Yes

DISCLOSURE: No

TAXATION: No

GOVERNMENT LICENCE FEE: Annual Filing Fee

DOUBLE TAXATION TREATIES: None

LANGUAGE OF DOCUMENTATION: English

If you would like further information on setting up a company in Florida or the formation of a Florida company or other Florida corporate entities or require professional advice relating to taxation or the structuring and requirements of a Florida company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Florida.

We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.

****** Please see the table of requirements for the various types of entities below – for further information please contact our offices******

C Corporations

S Corporations

LLCs & LLPs

General Partnerships

Liability of Owners

Limited, even if shareholders participate in management.

Same as “C” Corporation.

Limited, even if members participate in management

Unlimited for general partners; limited for limited partners who do not participate in management.

Number of Owners

No maximum

Maximum – 100 (as of 2005)

No maximum, usually at least 2

No maximum, minimum of 2

Profit/Loss and distributions

Special allocations permitted separate classes of stock

No special allocations permitted

Special allocations permitted

Special allocations permitted

Transferability of interests

No restrictions

No restrictions, but must be eligible shareholder or “S” status terminates

Restricted, typically requires approval of majority of members

Generally restricted unless authorized by agreement

Federal income taxes

Maximum 35% on Corporation, plus tax on dividends to shareholders

No corporate tax unless previously a C corporation

None at LLC or LLP level

None at partnership level

Continuity of life

Unlimited

Unlimited

Limited

Limited

Double taxation?

Yes

Rarely

No

No

Tax forms required

Form 1120

Form 1120S

Form 1065

Form 1065

How can TCS help you?

Get in touch with our team for a no obligation, free personal consultation either at our offices, or by telephone or email